Market Overview:
The smart mobility market is experiencing rapid growth, driven by rising urban population density and congestion, favorable government initiatives and regulatory push, and rapid advancements in connected vehicle technology. According to IMARC Group’s latest research publication, “Smart Mobility Market Size, Share, Trends and Forecast by Technology, Solution, Element, and Region, 2025-2033”, the global smart mobility market size was valued at USD 68.53 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 233.57 Billion by 2033, exhibiting a CAGR of 13.87% from 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
Download a sample PDF of this report: https://www.imarcgroup.com/smart-mobility-market/requestsample
Our report includes:
- Market Dynamics
- Market Trends and Market Outlook
- Competitive Analysis
- Industry Segmentation
- Strategic Recommendations
Growth Factors in the Smart Mobility Market
- Rising Urban Population Density and Congestion
The strain on traditional urban infrastructure due to rapid population growth is a primary catalyst for the smart mobility industry. As cities become increasingly crowded, the demand for efficient, scalable, and personalized transportation options accelerates. For instance, the United Nations projects that a significant majority of the world's population will reside in urban areas by the middle of the century, drastically increasing the pressure on existing road networks. This concentration of people drives the need for solutions like intelligent traffic management systems, which currently account for over a third (34.38%) of all smart mobility deployments, offering a dominant path to easing gridlock. The successful adoption of these smart solutions across major metropolitan areas worldwide has shown a capacity to reduce average commute times by between 20% and 35%, actively encouraging widespread public and governmental acceptance of new mobility models.
- Favorable Government Initiatives and Regulatory Push
Government policies worldwide are actively shaping the market by promoting sustainability and investing in modernized infrastructure. Strict environmental regulations and the global push for zero-emission zones necessitate the transition to electric vehicles (EVs) and smart public transit. Key countries in the Asia Pacific region, for example, are demonstrating rapid expansion in this sector, propelled by strong policy support for smart transportation and electric vehicle infrastructure rollouts. In the United States, initiatives like the National Science Foundation's program have already awarded millions for smart transportation projects, showcasing significant public sector investment. This regulatory environment, which includes incentives for green technologies and investments in smart city planning, is vital for creating the ecosystem where integrated, connected, and low-emission mobility solutions can thrive.
- Rapid Advancements in Connected Vehicle Technology
The convergence of AI, IoT, and high-speed networks, particularly 5G, is fundamentally transforming vehicles into highly connected nodes within a massive, intelligent system. Already, nearly 50% of all new vehicles sold globally are connected, capable of communicating over networks using technologies like GPS and various wireless protocols. This high level of connectivity is not just for consumer features; it forms the backbone for advanced fleet management, predictive maintenance, and autonomous driving systems. Companies like Toyota and Siemens are prominent players, with one holding a substantial share (roughly 18%) in global smart mobility deployments and the other controlling a significant segment (around 15%) focused on traffic management systems and IoT-enabled infrastructure. This deep integration of technology enhances both safety and operational efficiency, driving new investments across the entire value chain.
Key Trends in the Smart Mobility Market
- Rise of Mobility-as-a-Service (MaaS) Platforms
The trend toward integrated travel is emerging through the widespread adoption of Mobility-as-a-Service (MaaS) platforms. This concept shifts focus from vehicle ownership to a consumption model where users can plan, book, and pay for multimodal journeys—incorporating public transit, ride-hailing, and micro-mobility—through a single, unified digital application. For example, specific MaaS platforms are operational in various metropolitan areas globally, successfully integrating diverse transport options and simplifying the commuter experience. This digital convenience, enabled by advancements in 5G and IoT, allows platforms to provide real-time information and dynamic route optimization. The shift encourages a departure from private car use, enhancing urban mobility flow and directly contributing to lower traffic and reduced carbon emissions across densely populated city centers.
- Accelerated Electrification and EV Ecosystem Expansion
The electrification trend is rapidly moving beyond just car sales to encompass the entire mobility ecosystem, including public transit and shared micro-mobility fleets. This movement is driven by increasing environmental awareness and stringent government policies that favor zero-emission transport. As of a recent period, nearly 14 million new electric vehicles were registered worldwide, showing a substantial percentage jump from the prior period and representing nearly a fifth (18%) of all new vehicle sales globally. To support this growth, investment in the corresponding charging infrastructure is accelerating, making electric cars more practical for day-to-day use. This includes public fast-charging hubs and battery-swap stations, which are essential for the commercial viability of electric ride-sharing and logistics fleets operating in urban environments.
- Autonomous Systems in Public and Commercial Fleets
Autonomous driving technology is moving from conceptual development to focused deployment, particularly in structured environments like public transit and commercial logistics. Rather than solely focusing on private passenger vehicles, the key emerging trend is the use of pilot projects for autonomous public transport shuttles and self-driving taxis in various global smart cities. Companies such as Waymo and Uber are actively testing autonomous ride services, demonstrating the feasibility of these vehicles in optimizing traffic flow, reducing human error, and lowering transportation costs. Furthermore, the commercial sector is seeing a rise in the use of autonomous delivery vehicles and AI-enabled predictive maintenance for fleet operations, allowing logistics operators to enhance efficiency and reliability across their increasingly connected transport networks.
Leading Companies Operating in the Smart Mobility Industry:
- Cisco Systems Inc.
- Excelfore Corporation
- Ford Motor Company
- Innoviz Technologies Ltd
- QuaLiX Information System LLP
- Robert Bosch GmbH
- Siemens AG
- Thales Group
- TomTom N.V.
- Toyota Motor Corporation
Smart Mobility Market Report Segmentation:
By Technology:
- 3G and 4G
- Wi-Fi
- Global Positioning System (GPS)
- Radio Frequency Identification (RFID)
- Embedded System
- Others
In the smart mobility market, RFID holds the majority share due to its effectiveness in automated tracking and management of vehicles, enhancing operational efficiency and supporting applications like toll collection and smart parking.
By Solution:
- Traffic Management
- Parking Management
- Mobility Management
- Others
Traffic management leads the market with a 31.2% share, driven by the need for efficient urban mobility solutions to address congestion and safety concerns, utilizing technologies like IoT and AI for real-time traffic control and optimization.
By Element:
- Bike Commuting
- Car Sharing
- Ride Sharing
Ride sharing captures the largest market share at 36.8% in the smart mobility sector, favored for its affordability and convenience, leveraging technologies like GPS and mobile apps to enhance user experience and promote sustainability.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America dominates the smart mobility market with a 40.5% share, supported by a strong technological ecosystem, early adoption of EVs and AVs, and significant investments in smart city initiatives and transportation infrastructure.
Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-201971-6302
Top comments (0)